A steady rise in U.S. oil output will gather pace in the next five years, OPEC said on Sunday, predicting that demand for the producer group’s crude will decline despite a growing appetite for energy fed by global economic expansion. “Declining demand for OPEC crude is a result of strong non-OPEC...
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Affinity Tanker Weekly, 21 September 2018
VLCCs are seeing a nice, active market this week, facilitated by owners trying to push rates up to new highs. However, even though MEG and Source: Affinity Research LLP
https://www.hellenicshippingnews.com/affinity-tanker-weekly-21-september-2018/
Feature: St. Lawrence Seaway commodity tonnage up despite US-Canada trade rift
Cargo tonnage on the Great Lakes-St. Lawrence Seaway was up nearly 4% January-August year compared with the year-ago period, according to St. Lawrence Seaway Management Corporation data, an indication that trade tension between the US and Canada — and other countries — is not choking off overall...
To excel in marine insurance, it helps to earn stripes in the marine sector
Paul Mendham, president of Vancouver-based Navis Marine Insurance Brokers, didn’t get his start in insurance by working behind a desk at a brokerage. Instead, he launched his career trajectory in the marine side of the business, initially working on a tug before his then-girlfriend and now-wife,...
Samsung Heavy Wraps up 3-year Collective Bargaining and Wage Negotiations at One Go
Samsung Heavy Industries Co. has become the first among the country’s big three shipbuilders that settled this year’s collective bargaining and wage negotiations. In particular, the company concluded the agreements for three years at one go, including wage negotiations for 2016 and 2017. According...
ARA diesel, gasoil stocks up 1.2% on week: PJK International
Diesel and gasoil inventories in the Amsterdam-Rotterdam-Antwerp trading hub increased 1.2% on the week to 2.889 million mt in the seven days to Wednesday, according to PJK International data. Compared to the same period last year, diesel and gasoil stocks were 11.6% higher, according to the PJK...
https://www.hellenicshippingnews.com/ara-diesel-gasoil-stocks-up-1-2-on-week-pjk-international/
Yang Ming to Upgrade China-Vietnam-Thailand Service
Yang Ming Marine Transport Corp. (YM) has announced to upgrade its China-Vietnam/Thailand service network effective on October 12th, 2018. The China-Ho Chi Minh Express Service (CHX) will be jointly operated by YM, Orient Overseas Container Line Ltd. (OOCL) and Regional Container Lines (RCL) with a...
https://www.hellenicshippingnews.com/yang-ming-to-upgrade-china-vietnam-thailand-service/
Babcock ecoSMRT receives LR acknowledgement for ship application
Babcock International has been recognised by LR in completing a critical step towards achieving the LR General Approval for an LNG ship for its innovative ecoSMRT® single mixed refrigeration reliquefaction technology. Receiving LR Risk Based Design (RBD) process approval at Gastech 2018 in...
S.Korea: Growth of seaport cargo slows on Sino-U.S. trade row
Cargo processed at South Korean seaports has grown at a slower-than-expected pace this year in the wake of an intensifying trade row between the United States and China, data showed Friday. Container cargo handled at South Korea’s largest port of Busan stood at 12.44 million twenty-foot equivalent...
https://www.hellenicshippingnews.com/s-korea-growth-of-seaport-cargo-slows-on-sino-u-s-trade-row/
BSM Singapore relocates to new office to accommodate continued growth
More than 200 senior representatives from the global shipping community were present at the inauguration ceremony of the new Singapore offices of Bernhard Schulte Shipmanagement (BSM) in the Republic’s Central Business District on September 20th, 2018. To celebrate the opening of the new...